New Jersey Professional Liability Insurance

New Jersey Professional Liability Insurance

Whether you are a sole proprietor or part of a corporation, certain people need to have professional liability insurance, SIA in Livingston, NJ can help with this. This coverage protects professionals in the event they face a civil lawsuit or negligence claim made by a client. Professional indemnity insurance goes beyond the basic coverage of a general liability policy. Doctors, lawyers, consultants and contractors all invest in professional liability insurance.


Professional Liability Malpractice Insurance Versus Errors and Omission Insurance 

Typically malpractice insurance refers to the coverage purchased by medical professionals.  Errors and omission (E&O) insurance is purchased by lawyers, brokers and consultants.  Errors and omissions mean mistakes.  Other professions that take out this coverage include construction contractors, accountants and financial service experts as well as people in maintenance.  If there is an error or omission in service performed by the policyholder, coverage may also include defense costs but not in cases of criminal prosecution.

Medical and Nursing Professional Liability Insurance

Malpractice insurance is purchased by health care professionals such as doctors and nurses.  Mental health professional liability insurance is another important form of coverage.  People in medical professions are potentially vulnerable to lawsuits if complications or death occur.

What Professional Liability Insurance Basically Covers

Professional liability business insurance takes coverage a few steps further than general liability insurance.  It covers misrepresentation, negligence, inaccurate advice and violation of fair dealing and good faith.  This can apply to both services and products in the event of personal or financial loss due to these covered acts.  Examples providing advice that is clearly incorrect or misrepresenting the capabilities of a product to the detriment of the client or customer.

Cost of Professional Liability Insurance in Livingston, New jersey

The cost of professional liability insurance varies based on the type of business you are in and the amount of risk. Some states and professions requires you to carry this insurance.  It is priceless when you consider the cost of facing a single civil lawsuit without coverage. We are here to find you the right liability insurance in Livingston and New jersey

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